Adyen tops profit forecast on market expansion and slower hiring, shares jump

FILE PHOTO: The Adyen logo is seen at the reception desk of the company's headquarters in Amsterdam, Netherlands August 24, 2018. Picture taken August 24, 2018. REUTERS/Eva Plevier/File Photo

(Reuters) -Dutch payments company Adyen beat half-year core profit expectations driven by market share gains, slower hiring and lower one-off expenses on Thursday, sending its shares more than 5% higher.

While the digital payments sector faces pressures from lower post-pandemic consumer spending and regulatory scrutiny, Adyen is outgrowing peers helped by international expansion and clients such as U.S.-based Cash App and Canada's Shopify.